With the business growing and competition rising, upper management needs a good planning of targets and preparing budgets accurately and professionally with the help of accounting offices and companies. We offer you the best professional and complete planning budget module
Companies measure their success by comparing their profits with the previously schemed budget targets. Thus, planning budgets play a critical role in monitoring the management’s performance, operations execution, and target achievement.
During the planning budget preparation, it’s known that the senior management puts strategic targets that must be fulfilled during a specific financial period. Then these targets are translated by the middle management department officials and managers into steps that the lower direction, employees, and workers follow. These steps apply to all budgets, includingthe General Budget of Egypt.
Adequate planning budgets to make the highest profitsCopy
A planning budgetis a digital financial plan that accurately studies the resources that can be provided and used in operation and production to make profits. This budget contains the targets planned by the management, the processes required to achieve them, and the expected results during a specific period.
Benefits of applying the planning budget systemCopy
- Estimating the company’s different needs according to the data and information.
- Analyzing all the needed resources, whether financial or human and determining their availability.
- Tracking the ongoing operations and evaluating whether they’re following the planning budget or not.
- Raising the growth rates by confining resources and using them best.
- Planning budget preparation facilitates operations supervision and targets achievement.
- Planning budgets are considered a scale for the company’s actual performance and an analyzer for its financial level.
- A strong motive for employees to work hard and achieve the year’s targets.
- Preparing a planning budget will control the payments to avoid losses.
- Preparing the financial regulation of the budgets helps the decision makers to decide what suits the company’s financial state and the available and expected money
The optimum planning budget module from the ECPA companyCopy
The “Egyptian Certified Public Accountants” company is a pioneer in legal accounting in Egypt and the Middle East, providing the best accounting system for preparing planning budgets.
Our program has the best accounting features to perform several planning tasks that suit managing budgets of massive, medium, and small projects. Moreover, it’s capable of preparing the general budget of the country.
Tasks fulfilled by the moduleCopy
- Preparing the planning budget according to any period asked by the company, whether monthly, quarterly, semi-annually, annually or for several years.
- Quick budget planning: The user can add old budgets and modify them.
- Accurate preparation and planning of the financial regulation of the budget and finances.
- Cash control and payment restriction according to the planning budget.
- Planning the needed procedures to fulfil targets and measuring the connection between the budget’s clauses.
- Evaluating the company’s performance and results and comparing them to the plan.
- Dealing with and processing purchases and selling.
The role of the planning budgets in achieving corporate financial goalsCopy
A simplified video illustrates the role of planning budgets in raising the growth rates for companies and controlling all their operation to achieve their desired goals.
Advantages of the budget module from ECPACopy
- Understanding the company’s strategy and then turning it into an actual application through the program while minding workflow safety according to the planned steps.
- Providing different editions for the budget to prepare the final discretionary budget.
- Studying the available options and alerting the user about the expected errors and mistakes.
- Analyzing the deviation rates from the budget and giving suggestions for quick correction.
- Continuous motivation of employees through highlighting their best monthly and annual performance, motivating them to participate in planning the initial budget.
- Detailed study of previous years’ planning budgets and comparing them with the current and coming years’ budgets, including cost centers, finances, and more.
- Controlling the actual spending aspects.
- Tracking the actual registration of finances and comparing them to what was estimated.
- Provide monthly, quarterly, annual, or other reports anytime.
- Providing evaluating reports for the actual budget results.
- Preparing a report of deviations, treatments, and detailed pros and cons.
- Directly linking the planning budget evaluation results with employee performance through bonuses and incentives.
- Integration by linking with other accounting programs.
- The ability to adjust the module to meet the company’s nature and activity level.
- Our technical support is available 24/7 to provide you with legal and accounting consultations by experts.
FAQs about the budget moduleCopy
How is a discretionary budget prepared?Copy
- Firstly, we collect and confine all the cash expected to be gained during the upcoming financial period, such as cash from selling, credit sale, the revenue of shares; bonds; securities, and more. Additionally, payments of the sold fixed assets or bank loans.
- Secondly, we confine any expected payments during the same period, such as the cost of raw materials, project requirements, debts of credit purchase or loans, required cash, the value of the fixed assets to be bought, taxes and partners and shareholders’ shares.
- After confining all the cash receivables and payments, net cash flow is calculated. Whether a surplus means a profit or a shortage implies a loss.
How to budget your finances for maximum effect?Copy
Our team considers different aspects while placing the budget, including:
To determine whether the budget will belong to a branch, section, department, or the whole company.
Records and logbooks:
If the budget belongs to a specific project, the needed records must be determined while putting the budget.
When you plan a budget for selling or purchases, classification must be considered, such as linking the budget with a specific supplier, item, color, size, or invoice.
The budget’s year:
Does this budget belong to this year, the next year or the upcoming years? Meanwhile, use records of the previous years.
Which types of planning budgets our company can implement?Copy
- Financial budget
- Sales budget
- Expenditure budget (marketing and administrative)
- Wages budget
- Production budget
- Purchases and needs budget
- Productive and extra expenses budget
- Stock budget
Advantages of the planning budget module provided by “Egyptian Certified Public Accountants” company can’t be confined to points, but trying it is the best proof. Don’t hesitate to contact us and get your first consultation for free.